I would speculate that Mayor Tony Villar of LA would be involved. He’s Ahnuld’s lap dog. LA has no money and Villar is implementing everything green he can think of. Today Ahnuld said that he will press on with green reforms no matter what the US or anyone else does.
California has their own climate exchange. While rooting around on the net today I found an announcement from 2006 that the Chicago Climate Exchange was aiding in its start up operations.